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20110726
20110726
Search Results 0 to 18 of about 19 (some duplicates have been removed)
ceiling extension. in other words no big deal. he's made a lot of demands here. i think the people in congress are willing to say we work together on a lot of things. let's work this out. and even maybe, if it ends up being a two-step process rather than all at once. >> and how does he save face if that happens? he doesn't want to say i lost public they got everything they wanted? >> we'll try to help him find a way to get off of the limb he's out on if that is what it takes. we've got to save money, not spending so much. extending the debt ceiling so our credit worthyness does not fall into question f you can't do it at once, then let's take it and bite-sized pieces where we can get the job done. this may take longer. >> thank you. >> thank you. >> and now the topic of the white house, what is going on behind the scenes there? is politics in the equation? sam, how is the white house doing in this? >> doing just slightly better than gone kon gres, not good at all. we know washington is broken for years, we're seeing duct tape and coat hangers holding it together are coming off, too
barns is here and member of the gang of six joins us and says we need to do big thicks to solve this crisis. is speaker boehner's proposal big enough for him? what does he think of senator rere [ male annocer ] things seem better with travelocity's best price guarantee. our girl's an architect. our boy's a genius. we are awesome parents! biddly-boop. [ male announcer ] if you find a lower rate on a room you've booked, we won't just match it. we'll give you $50 towards your next trip. [ gnome ] it's go time. >> greta: okay let's face it. default is bad. many describe it as catastrophic. this can scare investors and businesses around the world and we're all connected around the world. and the asian markets are open now and how are those markets react something peter barns joins us. >> asian markets are up now. >> greta: why? >> because did he the do not believe we're going to default or have a downgrade. u.s. stock markets don't, either z bond markets because if they did, if they thought there was going to be a default or a downgrade markets would be so much lower where they are n
and gloom for the market watchers. what's the truth here. >> traders for a long time figured this was no big deal a big oner. recently they started to take action pulling gold prices higher over $1,600 a troy ounce and a weak dollar means that oil prices are spiking higher almost to $100 a barrel. bar the door if we actually have a default then you could see the big impacts a big market sell-off spiking interest rates. >> shepard: default a much bigger deal than a downgrade. a lot of folks suggest a downgrade coming either way. >> a downgrade could come any time. very big impact on consumer interest rates, mortgage rates, small business loans. you name it, they become more exeivel if those interest rates move higher. also stocks could sell off not good news for your 401(k), shep. >> shepard: no doubt. gerri willis fox business news. her report 5:00 eastern time, 4:00 central on the fox business network jewels up the dial. one republican leader says president obama would rather give speeches about the debt crisis than find a solution. but the president's experts say he is the one actually tal
15 minutes. the president started his address pushing for a big deal, a big plan. he blamed a significant number of republicans in congress for insisting on a cuts-only approach to the debt ceiling increase. the president talked again as he has about about millionaires and billionaires not paying their fair share he quoted president reagan. president obama says short term debt ceiling extension would lead to another standoff in six months. saying that is no way to run the u.s. government. he called on leaders from both parties to negotiate and called on the american people to call their lawmakers to tell them to make a deal to come to a compromise. to avoid default in what he called a financial problem for the united states, a big problem. while we wait for the republican response from house speaker john boehner, let's go to chief white house correspondent ed henry. >> reporter: the contrast was striking. the president flat out saying the other guys are part of a three-ring circus i'm about common ground, balance, compromise. that's because as we noted before he is trying to
. two competing plans that each side says will solve the situation. what are the big difference ? >> reporter: moments ago senator harry reid said speaker boehner's republican plan is dead on arrival in the senate. when you look at them on paper these plans are not that far apart. let's dig into the details. senator reid wants to cut spending by about 2.7 trillion. boehner wants to cut it by 1.2 trillion in the first bite but then come back later maybe with 1.8 trillion more. close together. the big difference is reid wants to have 2.4 trillion in more borrowing power. through the end of 2012. boehner just wants to do it through early 2012 for a trillion. so there would be less borrowing power. which would moon we would have this debate again in a few -- would mean we would have this debate again in a few months. both sides suggest that neither plan, even though they are not far apart they are not going anywhere. the question is should there be a third plan, a plan by the president? listen to what the president said last night. he never says call your congressman and support a s
for something big that can be a game changer in temps of reducing our deficit and long-term debt. >> bret: and you still think that something big can happen. >> we do still believe that something big can happen, precisely because doing something big in many ways is just as harded as doing something small. we've said we could fall short of that goal. it may not be achievable. we could in the aftermath fight for something significant and tax and entitlement reform. and we would set something out as long as it ensures that the cloud hanging over the economy is removed and that we lift the debt selling for a substantial period of time to make sure, the uncertainty that that creates doesn't continue to stay with us and that it still achiefs significant deficit reduction. that's not an ideal outcome, but this president made it clear he's not holding out for perfections, and he understands that no party to these negotiations will get everything he or she wants. >> bret: you say the president still thinks it's possible. why then did four months ago, did you say this. >> we believe we should move
need to be doing. we have this deadline looming. everybody agrees it would be a big mistake if we got to next tuesday and hadn't fixed this. in the best interests of the country, the american people we need to come together. it is going to require, in my view, a exitment on the part of democrats who -- a commitment on the part of democrats who so far have been unwilling to take on long term issues. >> greta: do you know of any democrat who said let's take on entitlements? >> i think most don't want to have that vote. >> greta: if you think entitlements a necessity, a strong structural change and the republicans say absolutely no, we are not going to vote for structural change that does put it at an impossible position, impasse. >> i think what this does, i don't like this honestly, we haven't passed a budget in 800 days. i think the american people look at this and say this is dysfunctional, broken. which is why we are talking this special commit think that would sit down. >> greta: we had the bowles simpson committee. the american people think fine, but you didn't pay attention to th
? >> well, i think he would like a big deal, a big agreement that would do two things. one was it would give the appearance, at least, of having made a major inroad. raising the debt ceiling and the leverage that provides to the republicans who only control one house of the congress further spending cuts. i think those are his two objectives. he wants the big deal because it would give him something to run on. he will could say look, we have taken major steps to improve our country's fiscal situation. and that will help the economy, he will argue. even if the economy hasn't done much between now and then. i think he wanted a deal. yeah. he wanted it on his terms he wanted a deal. >> here is why i disagree with you: last may, the senate voted on president obama's proposed budget cuts 400 billion over 10 years. that's 40 billion a year. 40 billion a year. that's nothing. that's lunch money for what the government spends. he didn't want any spending cuts. that was just three months ago. so how you can say now that he really wants some kind of meaningful deal? he didn't want it in may. why does
it would be a big mistake if we got to next tuesday and hadn't fixed this. in the best interests of the country, the american people we need to come together. it is going to require, in my view, a exitment on the part of democrats who -- a commitment on the part of democrats who so far have been unwilling to take on long term issues. >> greta: do you know of any democrat who said let's take on entitlements? >> i think most don't want to have that vote. >> greta: if you think entitlements a necessity, a strong structural change and the republicans say absolutely no, we are not going to vote for structural change that does put it at an impossible position, impasse. >> i think what this does, i don't like this honestly, we haven't passed a budget in 800 days. i think the american people look at this and say this is dysfunctional, broken. which is why we are talking this special commit think that would sit down. >> greta: we had the bowles simpson committee. the american people think fine, but you didn't pay attention to the last one. >> this would have an up and down vote on recomme
money than you're taking in, you need to spend less of it. there's no symptom of big government more menacing than our debt. break its grip, and we begin to liberate our economy and our future. bill: we've been talking about this issue for months, and we are down to that critical time. good morning, everybody, i'm bill hemmer. and a big welcome to jamie colby. jamie: you think we'll make it before august 2nd? how you feeling? bill: we'll see. jamie: we'll know more after the next two hours. absolutely. great to have you all here. harry reid and speaker boehner both have their own plans, presenting their own debt deals last night. boehner's plan cuts $3 trillion over the next ten years raising the debt limit by more than $2.5 trillion, and guess what? no tax hikes. bill: reid's plan includes more than $2.5 trillion in cuts over ten years raising the debt limit by $2.4 trillion and, also, no tax hikes. or as they like to call them in washington these days, revenue. stuart varney of fox business, good morning, my friend. how you doing? you're a financial man, what was your takeaway from
is it the big question of default and whether or not it would indeed have to happen? weigh in, you can see what other folks are saying there, we'll check back in on that survey in a little while. let's go for a moment to the state of alabama where educators are raising concerns about the state's new immigration law. the people who run the school district are complaining that following that law may put them at risk of losing federal funding. jonathan serrie has that story live from atlanta. >> reporter: sponsors of the new law say it's going to give alabama taxpayers an accurate assessment of just how much they pay each year to support public services, including education for illegal immigrants. but some public school officials say it places them in an uncomfortable position. some alabama educators fear the state's new law cracking down on illegal immigration could jeopardize millions of dollars of federal funding for public schools. at issue is one provision requiring schools to report the number of undocumented students they enroll. phoenix city school superintendent larry dechera says it's eu
a blank check today. this is just not going to happen. >> so is it about the american people or one big re-election campaign? we report, you decide. >> meanwhile, the united states government arming a mexican drug cartel for war? and when people said hey, this doesn't smell right, a brand new report says that's when the cover-up began. yes, the cover-up, brian. >> yes, a grandmother confronted by a naked intruder. >> again? >> not in my house! >> be strong. there's always a way to protect yourself. use it! >> but this crook picked on the wrong lady. "fox & friends" the right show for you because we start right now. >> come on in, folks and welcome to our tuesday telecast. we have lots to talk about because the president of the united states and the speaker of the house last night decided it was time to go in front of the american public to make their case. >> again? as brian just said about the other story, again? >> right. >> how many times do we have to have a press conference to try to figure out what the hell to do with our debt? it's one press conference after another and i thin
's no symptom of big government more menacing than our debt. break its grip, and we begin to liberate our economy and our future. >> i'm asking you all to make your voice heard. if you want a balanced approach to reducing the deficit, let your member of congress know. >> reporter: enough people did, presumably supporters as well as opponents, that the speaker's web site crashed along with those of a couple of other republicans and at least one democrat. republicans say the president wants a long-term debt ceiling hike to keep it out of his re-election bid. democrats say the bond rating agencies want a long-term hike. a short-term one, they say, would risk a downgrade of this country's credit rating, and that would hike credit interest rates on everyone. jon: the overwhelming number of calls coming into senate offices are urging members to oppose the president's call for tax increases, so we'll see. wendall goler, thank you. jenna: for more on this developing story, we're joined by a congressman who says both sides are responsible for the mess we're in. congressman bill pascal of new jerse
host has been a big proponent of the national sales tax idea. another buddy of mine has picked up that banner and has run to washington with it, which is good. the thing i'm a fan of is everyone having skin in the game. fan of fair tax, flatf[ tax. this idea that 42% of americans don't pay anything into the problems that president obama and the congress are grappling with now that is morally wrong. >> neil: 51% are eligible taxpaying families pay no income tax at all. having said that, my only fear is rather than a swap out they are an add on. >> that can be the problem that's happened in a lot of states. at the state level. they say we are going to do away with the sales tax and bring in an income tax. they tried to do that in tennessee where i lived and we pretty much stomped them into power and ran the politicians out on a rail that tried to do that. we would under with both rather than either or. on a federal level, as massive a move as that would be, it would have to be a complete shutdown of things as we nope it changes your personal residence, capital gains they go away. i
boehner, to get a big deal. now, boehner backed off my association to try and do it, but he did try to get a 4 trillion dollar deal and knew he couldn't get it from the caucus and by the way, obama couldn't get it from his. so, what they basically did, take it back where it belongs, which is in the congress. because this is the bill that's been voted on. >> it's going to end anyway, and it's going to end and they're agreeing, mandatory committee and it's going to be over and we'll talk about fun things. >> and i don't know if it'll get enough votes in the house of representatives. >> i do. >> this committee basically unconstitutionally removes from congress the ability to make decisions with respect to paying money. i'm saying unconstitutionally, the constitution says only the congress did far be it from me to challenge you go the constitution. >> paul ryan, has endorsed the republican plan and when he endorsed through the house of representatives, it gefs comfort they can go forward. >> also having worked in the house of representatives, the speaker is so smart. he's fot going to bring a
Search Results 0 to 18 of about 19 (some duplicates have been removed)